Making the case for kicking the fiscal can

As lawmakers in Washington rush to avert the fiscal cliff, there are advantages to kicking the can down the road for another year, analysts with First Trust Advisors investment services firm said Monday.

“On taxes, everyone knows driving off the fiscal cliff would be economic suicide. We think one overlooked possibility, given the complexity of the issues and lack of time, is an agreement to extend everything for one more year. This would give Congress and the president more time to work on something like Simpson-Bowles,” the analysts wrote in a research note published Monday.

That said, the First Trust analysts wrote that they do believe there will be compromises on taxes if there is no delay.

Meanwhile, among the many who don’t want the can to be kicked, there’s a group focusing on debt as “a young person’s issue.” On Tuesday, “AmeriCAN,” the mascot of “The Can Kicks Back” campaign, is scheduled to be “roaming the House and Senate,” reminding lawmakers that “young people need to be a major part of conversations about avoiding the fiscal cliff.”

Mascot enthusiasts who can’t make it to Congress on Tuesday can also look for “AmeriCAN,” described by the campaign as “a giant can,” at George Washington University on Monday. The campaign is running a can drive at GW for students who want lawmakers to solve the country’s debt problems.